Daqo New Energy Corp. (NYSE: DQ) saw its stock price plummet 6.82% in pre-market trading on Tuesday following the release of its underwhelming first-quarter 2025 financial results. The company, a leading manufacturer of high-purity polysilicon for the global solar PV industry, reported significant losses and a substantial decline in revenue, falling short of analyst expectations.

According to the unaudited Q1 2025 results, Daqo New Energy posted an adjusted net loss of $53.2 million and a net loss of $71.8 million. The company's quarterly revenue stood at $123.9 million, marking a stark 70.16% decrease from $415.31 million in the same period last year. Adjusted earnings per share came in at $(0.80), missing the analyst consensus estimate of $(0.69) by 15.94%. Similarly, the quarterly sales of $123.91 million fell short of the expected $182.08 million by 31.94%.

Despite the challenging quarter, Daqo New Energy provided guidance for the upcoming periods. The company expects to produce between 25,000 MT to 28,000 MT of polysilicon during Q2 2025. For the full year 2025, Daqo anticipates polysilicon production to range from 110,000 MT to 140,000 MT. However, these projections have done little to alleviate investor concerns, as reflected in the pre-market stock plunge. The negative adjusted EBITDA of $48.4 million and an adjusted EBITDA margin of -39.1% further underscore the company's current financial struggles in a competitive and rapidly evolving solar energy market.